Order and Procedures for Enforcing Bankruptcy Resolution Decisions of the Court

Duy Thinh

08:56, 11/07/2024

Inter-Circular 07/2018/TTLT-BTP-VKSNDTC-TANDTC stipulating coordination in the execution of judgments by the Court on bankruptcy resolution.

Within 05 working days, from the date of receiving the notice of acceptance of the bankruptcy petition from the court, the civil judgment enforcement agency shall issue a Decision to temporarily suspend the judgment enforcement regarding the assets of the enterprise; except in cases of compensation judgments or decisions regarding life, health, honor, or wages for employees.

In case the Court issues a decision not to commence bankruptcy proceedings, within 05 days from the date of receiving the Court's decision, the judgment enforcement agency shall issue a decision to temporarily suspend and issue a decision to continue enforcement in accordance with Clause 1 Article 37 and Clause 3 Article 49 of the Law on Civil Judgment Enforcement.

If the Court decides to commence bankruptcy proceedings but then suspends the bankruptcy proceedings and suspends business recovery, within 05 days from the date of receiving the Court's decision, the civil judgment enforcement agency shall withdraw the decision to suspend enforcement and issue a decision to continue enforcement.

More details can be found in Joint Circular 07/2018/TTLT-BTP-VKSNDTC-TANDTC which takes effect from August 01, 2018.

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